StraitsX, the Singapore-based stablecoin infrastructure provider licensed by the Monetary Authority of Singapore (MAS), has announced a partnership with Visa to expand its stablecoin-backed card issuing capabilities to more than 100 markets globally. The deal, disclosed on 15 October 2026, is framed as the next stage in StraitsX’s growth after establishing a significant card business across Asia.

The company reported annualised gross transaction volume of more than US$6 billion across its stablecoin-backed card programmes in Asia, a figure that gives the partnership a credible commercial foundation. The expanded capability is designed for fintechs, Digital Payment Token (DPT) service providers and wallet operators that want to issue cards connected to stablecoin balances and digital asset payment flows, while consumers and merchants continue to use the standard Visa acceptance network. The announcement noted that the expansion remains subject to applicable regulatory, compliance and Visa requirements.

Tianwei Liu, chief executive and co-founder of StraitsX, said the growth of stablecoin-backed cards in Asia had demonstrated a practical path from settlement-layer use case to everyday payments. “Expanding our issuing capabilities globally allows us to bring the same infrastructure to businesses looking to build and scale card programs across markets,” he said. Rubail Birwadker, Global Head of Growth Products and Partnerships at Visa, described the collaboration as connecting stablecoin payment flows to the scale and reliability of Visa’s global network.

Why card issuing matters for stablecoin infrastructure

The structural significance of this deal lies in the distribution model. Stablecoin-to-card bridging is one of the few mechanisms through which dollar or Singapore-dollar denominated stablecoins can be used at the point of sale without requiring merchant adoption of new payment rails. By sitting inside the Visa acceptance network, StraitsX can offer its fintech and DPT-service-provider clients access to tens of millions of merchant locations while retaining stablecoin balances and settlement on its own infrastructure layer.

StraitsX issues the XUSD and XSGD stablecoins and holds a Major Payment Institution licence from MAS. That regulatory standing matters in the current environment. Several stablecoin issuers are navigating new licensing frameworks across key markets: MiCA in the European Union came into force for electronic money tokens earlier this year, and regulators in the Gulf, including the UAE’s VARA and ADGM, have established their own stablecoin regimes. Any expansion into those jurisdictions will require StraitsX to satisfy local licensing requirements before card programmes can be launched, which is presumably the significance of the “applicable regulatory approvals” caveat in the release.

Market context and competitive positioning

StraitsX is not alone in pursuing this model. Several other infrastructure providers are working to connect stablecoin balances to card networks, including firms operating in the US, Europe and South-East Asia. Visa itself has been active in this space for several years, having previously expanded its stablecoin settlement pilots and partnered with other stablecoin issuers. The competitive question for StraitsX is whether its Asia-rooted regulatory track record and existing GTV volume give it a differentiated position in signing fintech clients outside that home region.

The release also flagged that the collaboration would account for anti-money laundering and counter-terrorist financing risk arising from stablecoin-card integration, a non-trivial operational consideration given the cross-border nature of the product and the varied AML frameworks across the 100-plus target markets.

The next concrete milestones to watch are the specific non-Asian markets where card programmes go live, any further stablecoin licences StraitsX acquires outside Singapore, and whether the US$6 billion annualised GTV figure grows as global issuance comes online.

The post StraitsX and Visa to Extend Stablecoin Card Issuing to 100+ Markets appeared first on The Fintech Times.